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← Dt38 Foundation

2023-08-31-accounts

REGISTERED COMPANY NUMBER: 09195621 (England and Wales) REGISTERED CHARITY NUMBER: 1160269

Report of the Trustees and

Financial Statements for the Year Ended 31 August 2023

for

DT38 FOUNDATION

JPW ACCOUNTANCY SERVICES & MANAGEMENT CONSULTANTS Chartered Certified Accountants

48 Sandy Lane South, Wallington, Surrey, SM6 9RQ

DT38 FOUNDATION

Contents of the Financial Statements for the Year Ended 31 August 2023

Page
Report of the Trustees 1
Independent Examiner's Report 2
Statement of Financial Activities 3
Balance Sheet 4 to 5
Notes to the Financial Statements 6 to 13
Detailed Statement of Financial Activities 14 to 15

DT38 FOUNDATION

Report of the Trustees

for the Year Ended 31 August 2023

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 August 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number

09195621 (England and Wales)

Registered Charity number

1160269

Registered office

TIME CENTRAL 32 GALLOWGATE NEWCASTLE UPON TYNE NE14BF

Trustees

Joe Harry John Sealey Company Director Tracy Lee Tombides Company Director Taylor James Tombides Company Director Jonathan Whinfield Sweet Company Director Michele Virginia Verroken Company Director Nicole Toni Sealey Company Director Jim Tombides Retired

Company Secretary

Muckle Secretary Limited

Independent Examiner

JPW ACCOUNTANCY SERVICES & MANAGEMENT CONSULTANTS Chartered Certified Accountants 48 Sandy Lane South, Wallington, Surrey, SM6 9RQ

Approved by order of the board of trustees on 22 March 2024 and signed on its behalf by:

==> picture [118 x 47] intentionally omitted <==

Tracy Lee Tombides - Trustee

Page 1

Independent Examiner's Report to the Trustees of DT38 FOUNDATION

Independent examiner's report to the trustees of DT38 FOUNDATION ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 August 2023.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

==> picture [63 x 47] intentionally omitted <==

Janet Wallace,

JPW ACCOUNTANCY SERVICES & MANAGEMENT CONSULTANTS Chartered Certified Accountants

48 Sandy Lane South, Wallington, Surrey, SM6 9RQ

22 March 2024

Page 2

DT38 FOUNDATION

Statement of Financial Activities for the Year Ended 31 August 2023

Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
Other trading activities
2
Total
EXPENDITURE ON
Raising funds
Charitable activities
3
Programme Activities
Other
Total
NET INCOME/(EXPENDITURE)
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
fund
£
22,282
25,651
47,933
8,145
23,577
27,551
59,273
(11,340)
280
(11,060)		 Restricted
fund
£
-
-
-
-
-
-
-
-
-
-		 31.8.23
Total
funds
£
22,282
25,651
47,933
8,145
23,577
27,551
59,273
(11,340)
280
(11,060)		 31.8.22
Total
funds
£
51,690
28,035
79,725
1,563
21,498
26,673
49,734
29,991
(29,711)
280

The notes form part of these financial statements

Page 3

DT38 FOUNDATION

Balance Sheet

31 August 2023

Notes
FIXED ASSETS
Intangible assets
8
Tangible assets
9
CURRENT ASSETS
Stocks
10
Cash at bank
CREDITORS
Amounts falling due within one year
11
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
CREDITORS
Amounts falling due after more than one year
12
NET ASSETS
FUNDS
14
Unrestricted funds
TOTAL FUNDS		 Unrestricted
fund
£
8,479
-
8,479
-
6,769
6,769
(5,969)
800
9,279
(20,339)
(11,060)		 Restricted
fund
£
-
-
-
-
-
-
-
-
-
-
-		 31.8.23
Total
funds
£
8,479
-
8,479
-
6,769
6,769
(5,969)
800
9,279
(20,339)
(11,060)
(11,060)
(11,060)		 31.8.22
Total
funds
£
8,479
344
8,823
10,400
21,676
32,076
(9,880)
22,196
31,019
(30,739)
280
280
280

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

The notes form part of these financial statements

continued...

Page 4

DT38 FOUNDATION

Balance Sheet - continued

31 August 2023

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on 22 March 2024 and were signed on its behalf by:

==> picture [119 x 47] intentionally omitted <==

Tracy Lee Tombides - Trustee

The notes form part of these financial statements

Page 5

DT38 FOUNDATION

Notes to the Financial Statements for the Year Ended 31 August 2023

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

continued...

Page 6

DT38 FOUNDATION

Notes to the Financial Statements - continued for the Year Ended 31 August 2023

2.
OTHER TRADING ACTIVITIES
Fundraising events
Merchandise income
3.
CHARITABLE ACTIVITIES COSTS
Media & promotions
Events Costs
Launching costs
Website development
4.
SUPPORT COSTS
Management
£
Other resources expended
10,864
Programme Activities
-
10,864
Support costs, included in the above, are as follows:
Management
Insurance & Trademarking
Telephone
Office Costs
Rent
Depreciation of tangible and heritage assets		 Finance
£
105
-
105		 31.8.23
31.8.22
£
£
25,651
25,170
-
2,865
25,651
28,035
GENERAL
SUPPORT
TOTAL
£
£
£
358
72
430
11,979
2,419
14,398
27,714
5,596
33,310
3,352
677
4,029
43,403
8,764
52,167
Information
Governance
technology
costs
Totals
£
£
£
-
841
11,810
1,000
-
1,000
1,000
841
12,810
31.8.23
31.8.22
Other
resources
Total
expended
activities
£
£
861
812
591
436
1,868
2,096
7,200
7,200
344
491
10,864
11,035		 31.8.22
£
25,170
2,865
28,035
TOTAL
£
430
14,398
33,310
4,029		 31.8.22
£
25,170
2,865
28,035
52,167
Totals
£
11,810
1,000
12,810
31.8.22
Total
activities
£
812
436
2,096
7,200
491
11,035

continued...

Page 7

DT38 FOUNDATION

Notes to the Financial Statements - continued for the Year Ended 31 August 2023

4. SUPPORT COSTS - continued Finance

4. SUPPORT COSTS - continued
Finance
31.8.23 31.8.22
Other
resources Total
expended activities
£ £
Bank charges 105 104
Information technology
31.8.23 31.8.22
Programme Total
Activities activities
£ £
Postage and stationery 1,000 -
Other
31.8.23 31.8.22
Total Total
activities activities
£ £
Sundries - 215
Governance costs
31.8.23 31.8.22
Other
resources Total
expended activities
£ £
Accountancy and legal fees 841 3,341
5. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
31.8.23 31.8.22
£ £
Depreciation - owned assets 344 491

continued...

Page 8

DT38 FOUNDATION

Notes to the Financial Statements - continued for the Year Ended 31 August 2023

6. TRUSTEES' REMUNERATION AND BENEFITS

One of the trustees were paid rental income for the dedicated provision for rental office /storage space of £7,200.00.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 August 2023 nor for the year ended 31 August 2022.

7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

INCOME AND ENDOWMENTS FROM
Donations and legacies
Other trading activities
Total
EXPENDITURE ON
Raising funds
Charitable activities
Programme Activities
Other
Total
NET INCOME
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
fund
£
51,690
28,035
79,725
1,563
21,498
26,673
49,734
29,991
(29,711)
280		 Restricted
fund
£
-
-
-
-
-
-
-
-
-
-		 Total
funds
£
51,690
28,035
79,725
1,563
21,498
26,673
49,734
29,991
(29,711)
280

continued...

Page 9

DT38 FOUNDATION

Notes to the Financial Statements - continued for the Year Ended 31 August 2023

8. INTANGIBLE FIXED ASSETS

COST
At 1 September 2022 and 31 August 2023
AMORTISATION
At 1 September 2022 and 31 August 2023
NET BOOK VALUE
At 31 August 2023
At 31 August 2022
9.
TANGIBLE FIXED ASSETS
COST
At 1 September 2022 and 31 August 2023
DEPRECIATION
At 1 September 2022
Charge for year
At 31 August 2023
NET BOOK VALUE
At 31 August 2023
At 31 August 2022
10.
STOCKS
Finished goods		 Fixtures
and
fittings
£
1,501
1,501
-
1,501
-
-		 Computer
equipment
£
2,457
2,113
344
2,457
-
344
31.8.23
£
-		 Patents
and
licences
£
3,494
(4,985)
8,479
8,479
Totals
£
3,958
3,614
344
3,958
-
344
31.8.22
£
10,400

continued...

Page 10

DT38 FOUNDATION

Notes to the Financial Statements - continued for the Year Ended 31 August 2023

11.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Other loans (see note 13)
Trade creditors
Other creditors
12.
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
Other loans (see note 13)
13.
LOANS
An analysis of the maturity of loans is given below:
Amounts falling due within one year on demand:
Other loans
Amounts falling between one and two years:
Other loans - 1-2 years
14.
MOVEMENT IN FUNDS
At 1.9.22
£
Unrestricted funds
General fund
280
TOTAL FUNDS
280
Net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
47,933
TOTAL FUNDS
47,933

continued...

Page 11

DT38 FOUNDATION

Notes to the Financial Statements - continued for the Year Ended 31 August 2023

14. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

At 1.9.21
£
Unrestricted funds
General fund
(29,711)
TOTAL FUNDS
(29,711)
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
79,725
TOTAL FUNDS
79,725
A current year 12 months and prior year 12 months combined position is as follows:
At 1.9.21
£
Unrestricted funds
General fund
(29,711)
TOTAL FUNDS
(29,711)		 Net
movement
At
in funds
31.8.22
£
£
29,991
280
29,991
280
Resources
Movement
expended
in funds
£
£
(49,734)
29,991
(49,734)
29,991
Net
movement
At
in funds
31.8.23
£
£
18,651
(11,060)
18,651
(11,060)
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as
follows:
Incoming Resources Movement
resources expended in funds
£ £ £
Unrestricted funds
General fund 127,658 (109,007) 18,651
TOTAL FUNDS 127,658 (109,007) 18,651

continued...

Page 12

DT38 FOUNDATION

Notes to the Financial Statements - continued for the Year Ended 31 August 2023

15. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 August 2023.

Page 13

DT38 FOUNDATION

Detailed Statement of Financial Activities for the Year Ended 31 August 2023

INCOME AND ENDOWMENTS
Donations and legacies
Gifts
Donations
Other trading activities
Fundraising events
Merchandise income
Total incoming resources
EXPENDITURE
Raising donations and legacies
Merchandise costs
Other trading activities
Purchases
Charitable activities
Advertising
Events Cost
Website
Other
Accommodation & Travel
Other office costs
Book-keeping & Accounting
Management fee
Support costs
Management
Insurance & Trademarking
Telephone
Office Costs
Carried forward		 31.8.23
£
-
22,282
22,282
25,651
-
25,651
47,933
8,145
-
12,175
9,226
1,176
22,577
3,000
2,241
5,500
5,000
15,741
861
591
1,868
3,320		 31.8.22
£
1
51,689
51,690
25,170
2,865
28,035
79,725
-
1,563
8,688
11,622
1,188
21,498
3,228
-
3,750
5,000
11,978
812
436
2,096
3,344

This page does not form part of the statutory financial statements

Page 14

DT38 FOUNDATION

Detailed Statement of Financial Activities

for the Year Ended 31 August 2023

Detailed Statement of Financial Activities
for the Year Ended 31 August 2023
Management
Brought forward
Rent
Computer equipment
Finance
Bank charges
Information technology
Postage and stationery
Other
Sundries
Governance costs
Accountancy and legal fees
Total resources expended
Net (expenditure)/income		 31.8.23
£
3,320
7,200
344
10,864
105
1,000
-
841
59,273
(11,340)		 31.8.22
£
3,344
7,200
491
11,035
104
-
215
3,341
49,734
29,991

This page does not form part of the statutory financial statements

Page 15